The cryptocurrency market continues to show volatility, with Solana's notable decline and signs of recovery from Uniswap. Meanwhile, BlockDAG is emerging on the horizon, gearing for an important milestone.
Solana Price Trend Weakens
Solana (SOL) is under significant pressure, currently trading around $107.90 after falling 16.63% over the past week. The price is testing a key support level near $110. If this level holds, a recovery towards the $129–$143 range could occur.
However, if this support does not hold, the Solana price trend could weaken further, with a drop below $100 still on the table. Technical indicators are also leaning bearish as both RSI and ADX suggest continued selling activity.
Uniswap Shows Signs of Reversal
Uniswap (UNI) is starting to show signs of a reversal after a prolonged period of decline. Locked in a downward channel since peaking near $20 in December 2024, it has created a WXYXZ correction pattern. The most recent wave, labeled Z, found solid support in the $4.80 to $5.75 zone, a level that held strong in 2023.
Currently, UNI is testing a breakout from its wedge pattern, and RSI has rebounded from oversold conditions, lending support to a bullish outlook. A clean move above $5.75 could confirm a reversal, with $6.58 acting as the next major resistance.
BlockDAG Prepares for Token Generation Event
BlockDAG is gearing up for a major turning point as it prepares for its Token Generation Event (TGE). This anticipated launch will set the foundation for coin distribution, mining activation, and wider adoption.
The token distribution plan is clear: 40% of tokens will be released at TGE, with the remaining 60% unlocked over three months. Bonus tokens will remain locked for a year, then unlock gradually over the following 12 months, while mining-related coins will follow similar schedules.
With mining beginning post-TGE, users will gain access to the full suite of BDAG’s mining tools, including the compact X10 miner and the powerful X100 rig. The TGE will also mark BlockDAG’s move toward listings on 10 exchanges, providing global access to BDAG.
The current cryptocurrency market situation reveals weakness in Solana, signs of recovery in Uniswap, and BlockDAG's upcoming Token Generation Event. These factors will influence market dynamics in the coming months.
